Live Nation Entertainment (NYSE:LYV) Trading Up 6.5% – Here’s Why

Live Nation Entertainment, Inc. (NYSE:LYV) shares traded up 6.5% during mid-day trading on Friday . The stock traded as high as $144.23 and last traded at $147.1670. 1,225,063 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 2,590,421 shares. The stock had previously closed at $138.14.

Wall Street Analyst Weigh In

Several research firms have issued reports on LYV. Evercore ISI increased their price objective on Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Susquehanna increased their target price on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Monday, December 29th. Guggenheim dropped their price objective on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Finally, Morgan Stanley reduced their price objective on Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $172.55.

Live Nation Entertainment Stock Performance

The company has a market capitalization of $34.52 billion, a PE ratio of 106.58, a price-to-earnings-growth ratio of 9.66 and a beta of 1.20. The stock’s fifty day simple moving average is $139.73 and its 200-day simple moving average is $150.20. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. During the same period in the prior year, the firm earned $1.66 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

Large investors have recently added to or reduced their stakes in the business. Clearstead Trust LLC increased its stake in Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares during the last quarter. Ameriflex Group Inc. grew its holdings in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares during the period. Atwood & Palmer Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $33,000. Heartwood Wealth Advisors LLC acquired a new position in Live Nation Entertainment during the third quarter valued at approximately $34,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in Live Nation Entertainment during the third quarter worth approximately $37,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.